SBA Financing Relief Help!!!

The goal here is to keep this simple and get you straight to where you need to go. We hope this will be a real help for you...

Existing Loan

If you have a loan with a bank, do these steps:

1. Contact them directly and ask for 3 months deferral options
2. Follow their instructions expediently 

Need Capital

If you need capital for your business, do the following:

• Go to www.sba.gov/disaster and apply for a loan
• Call 800-659-2955 or email disastercustomerservice@sba.gov to continue to follow up.
• General capital resources through SBA click here Corona SBA Resources
• CARES Act Help click here CARES Act Information
• Click here: CARE Act Guide

Employee Help

If you need help in dealing with employees, please do the following:

• Go to this for tax credits Tax Credit Help
• If you need more advice watch this video Confidence for Uncertain Times
• Preparation for internal virus outbreak CDC Outbreak

Additional Tips

Any additional tips, please do this:

• Watch video “Confidence for Uncertain Times” above
• Read this article Battle Plan for Small Businesses

Church / Non-Profit Help

Need relief for your Church do this:

• Watch video CARE Act
• Here for church resources Church Resources

Disaster Relief Questions/Answers

Who is eligible?

• Any small business affected by this disaster.
• Generally right now, not churches
• New businesses

What is the criteria?

• Need a credit score; not tied to your score
• Fill out all the application paperwork
• Case manager will be assigned and talk with you

How much can I get?

• Up to 2 million per business
• Rate is 3.75% fixed for 30 years for for profit businesses
• Rate is 2.75% fixed for 30 years for non profit businesses
• The amount is based on 6 months worth of loss
• You get 1 year of deferment on the payments

What if I have multiple businesses?

• You would have to put in multiple applications for each business
• If it is only you owning 100% of both business, you only have to do 1 application

What can I use it for?

• Payroll, accounts payable and any business operation expenses
• Not loss of sales or profits or LT debtsIs collateral needed?
• Yes for anything over $25,000 they will take collateral
• You will have to sign a personal guaranty

Is there a cost to apply?

• Nothing

Do I have to take the loan if it is offered?

• No

What is the timeline?

• 3 to 5 days to get a case manager
• 3 weeks to fund